Bitcoin / United States DollarCoinbase
Description
⋅ BTC upcoming support 40.4-39.2k
double top chart pattern is a bearish reversal chart pattern that is formed after an uptrend.
This pattern is formed with two peaks above a support level which is also known as the neckline.
The first peak is formed after a strong uptrend and then retrace back to the neckline.
After reaching back to its neckline, the price becomes bullish and rises again to form the second peak.
The formation of this pattern is completed when the prices move back to the neckline after forming the second peak.
When the prices break through the neckline or the support level then the bearish trend reversal is confirmed.